Congrats all LONGS! ...Recommended by Stk2Watch today, price target = $3.15; congrats to all longs, I think we are going much higher this week. We were going to get there anyway, but this should kick start us much sooner. SETO deserves to be at $2-3 I think, especially with news of their new high speed Internet products and other telecom products they will be selling.
Patience often pays off well.
Stk2Watch - March 6 - 8, 2000
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Picked at: $1.12
Short Term Target: $ 3.15
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Check out the news issued today and 2/2/2000.
SETO Holdings, Inc. (News 2/2/2000): (OTC BB:SETO): On a pro forma basis
for the nine (9) months ended October 31, 1999 sales were $17,504,462 with
net income after tax $ 444,099 or $.03 per share on the weighted average
number of shares outstanding 17,415,565. For the period ending October 31,
1999 the total assets are $13,528,604 and stockholders equity of
$6,561,014.
The Company's President, Gene Pian, pointed out that all subsidiaries are
performing very well and are on track to meet the forecast of $24 million
revenue and profits of $3+ million for year ending January 31, 2001.
The Company, in November 1999, acquired Hong Kong Batteries Industries,
Ltd. located in Hong Kong and main land China and Fimas Electronics Sdn
Bhd, located in Malaysia. See previous news releases for additional
information.
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SETO Holdings, Inc. Forms a New Company SETO -M- Sdn Bhd Malaysia as a
Joint Venture in the Telecommunications Industry
BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--March 6, 2000--SETO Holdings,
Inc. (OTC BB:SETO) announced today the incorporation of SETO (M) Sdn Bhd
for a Joint Venture with Global Electronics Sdn Bhd in Penang Malaysia for
the development and marketing of telecommunication products for the world
wide market.
The first products to be launched are: (1) a Windows-based Net PC and NC
terminal, (2) a 1000 S Web and handset for Internet access with built in
modem, (3) a SetoTalk Standalone Internet Phone Device with Speaker Phone
and Microphone, and (4) an ADSL modem for multi user applications. Other
products, already in design phase, will follow in the coming months.
Mr. Gene Pian, president of SETO said, " The new telecommunication
products will be manufactured and marketed by wholly owned subsidiaries or
joint venture partners of SETO Holdings, Inc. The immediate markets will
be in SE Asia and China with expansion into the USA and Europe during
first quarter of 2001. SETO (M) is already in negotiations for an ADSL
system for a government project in Malaysia and is expect to be in
production within 4-6 months. Estimated revenue for the first year for
ADSL products alone is $4.4 million."
Adding telecommunication products broadens our customer base, expands the
product lines for SETO's e-commerce web site and increases the profit
margins for the contract manufacturing subsidiaries because we are
producing and selling direct to the end users, said Gene Pian.
Details of each product will be available soon on the SETOHOLDINGS.com web
site.
SETO HOLDINGS, Inc., formerly Semicon Tools Inc. has been a public Company
since 1987 and operates as a broad based technical manufacturer in two
major product groupings:
Technical products to industry: inclusive of diamond tools, wafer fab
supplies and technical ceramics.
Consumer products: cellular phone batteries, rechargeable batteries for
all uses, consumer electronics such as home theater sound systems, DVD,
VCD, VCR players.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy) |
